Indian rupee after depreciating to more than six weeks in previous trading session, opened on positive note and recouping more ground was trading strong against dollar on Friday tracking strength of other Asian currencies. However, month-end dollar demand from oil importers weighed on the sentiment of local unit. Additionally, massive losses of local unit also were limiting further appreciation of Indian currency on last trading session of the week. On the global front, dollar bloc currencies nursed hefty losses early on Friday, following a sell-off that saw the Australian dollar slump to its lowest in over five years as investors wagered on an interest rate cut by Reserve Bank of Australia.
The partially convertible currency is currently trading at 61.73, stronger by 14 paise from its previous close of 61.87 on Thursday. The currency touched a high and low of 61.84 and 61.70 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.49 and for Euro stood at 69.32 on January 29, 2015. While, the RBI’s reference rate for the Yen stood at 52.25, the reference rate for the Great Britain Pound (GBP) stood at 93.1230. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 29, 2015 | 61.49 | 93.1230 |
| January 28, 2015 | 61.41 | 93.1843 |
(RBI-Reference Rate)
